Courtesy of Reuters:
TAX BREAKS FOR SHIPPING JOBS OVERSEAS
Romney challenged Obama's statement that companies can take a tax deduction for shipping jobs overseas.
"Look, I've been in business for 25 years. I have no idea what you are talking about. I maybe need to get a new accountant. The idea that you get a break for shipping jobs overseas is simply not the case," Romney said.
What Obama was actually describing was a tax break for ordinary business expense, including deductions allowed for a company if it closes its plant in the United States and moves it to another country.
In July, Senate Republicans blocked a Democratic proposal that would have provided a tax credit to companies that move production back to the United States. It also would have ended the tax break that companies can claim when closing a domestic plant, even if operations are moving abroad.
DOES OBAMA'S PLAN CUT $716 BILLION FROM MEDICARE?
Romney repeatedly cited a figure of $716 billion - saying Obama would cut that amount from Medicare to fund his healthcare overhaul. That claim has been rejected by Democrats and independent analysts.
Obama's healthcare law would slow payment increases for hospitals and insurers, something it views as a savings rather than as a cut to Medicare benefits or programs. It does not change the basket of benefits offered to patients.
The $716 billion figure is a Congressional Budget Office estimate of how much the law would save in Medicare spending from 2013 to 2022, compared with what would have occurred without reform. Those funds would be used to help expand health coverage to more than 30 million uninsured Americans.
Obama's Affordable Care Act also offers new benefits to the elderly, such as prescription drug rebates and discounts, and preventive tests including mammograms and cancer screenings without copays or deductibles under Medicare Part B, which covers visits to doctors' offices and outpatient clinics.
More to come. Count on it.